Jeffrey CohenCo-Author: Mara B. Peterson, Esq. Using Revocable Trusts and Limited Liability Companies in Estate Planning If you are someone who owns real estate, particularly if your properties are used for rental purposes, there are many important legal and tax considerations for these properties in an estate planning context. Without proper estate planning, these assets could … Continue Reading
Whether you are starting a new business or have a well-established one already in place, it is important to have experienced legal and tax counsel to provide ongoing guidance and advice. Business issues and legal documents can be confusing. Having a good attorney and the right legal documents in place can go a long way … Continue Reading
Under Colorado law, your child becomes a legal adult at age 18. Parents who still think of themselves as protectors and advisers, even after their children become legal adults, often do not consider the real-world implications of that milestone birthday. It is important, as parents, that you understand what legal documents your adult child should … Continue Reading
If you are going through a divorce or separation, taxes may be the last thing on your mind. However, poor tax planning during this process can lead to huge headaches down the road. We have experience helping clients navigate the potential tax pitfalls that can negatively impact their marital estate. We can work alongside your divorce attorney to … Continue Reading
Hopefully you never receive a dreaded IRS tax notice in the mail. IRS tax notices can be hard to interpret and even harder to know how to resolve. This is where we can help. We have over 20 years of experience dealing with the IRS and we can work with the IRS on your behalf … Continue Reading
IRS Audits: The Probability and How to Survive One Fortunately, most taxpayers will never have to deal with the feared IRS audit (also called an examination). Historically, less than 1 percent of all individual tax returns are selected for audit each year. However, the likelihood of an audit increases based on several factors, including the … Continue Reading
An important part of estate planning that is often overlooked is the creation of an “Important Information and Documents” folder. This may be either a physical or digital folder, and it should contain your important information and documents, that is, the items your loved ones would need if something were to happen to you. Organizing … Continue Reading
After years of low examination rates, the IRS has recently announced that they are planning to increase audits of small businesses by about 50% during the 2021 tax year. They are even planning to hire more specialized auditors to strengthen their enforcement efforts in order to accomplish this increased audit rate. Although the possibility of … Continue Reading
Business Succession Planning – Cultivate Enduring Value in Your Company Business succession planning may be one of the most challenging issues a small business owner will face. However, a well-conceived succession agreement can minimize friction among owners, relatives, and key executives and ensure the business endures for the next generation. Many small business owners may … Continue Reading
Business Entity Selection Entity selection is one of the most important decisions a new business venture has to make.The choice you make about the structure of your business will affect how much you pay in taxes, the level of risk to your personal assets, and even your ability for funding. Our firm can help advise … Continue Reading
